Enphase Energy (ENPH - Free Report) closed the most recent trading day at $26, moving -0.95% from the previous trading session. This change was narrower than the S&P 500's 4.34% loss on the day. At the same time, the Dow lost 4.55%, and the tech-heavy Nasdaq lost 3.79%.
Prior to today's trading, shares of the solar technology company had lost 55.31% over the past month. This has lagged the Oils-Energy sector's loss of 51.4% and the S&P 500's loss of 28.78% in that time.
Investors will be hoping for strength from ENPH as it approaches its next earnings release. The company is expected to report EPS of $0.32, up 300% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $205.70 million, up 105.39% from the year-ago period.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $1.27 per share and revenue of $883.74 million. These results would represent year-over-year changes of +33.68% and +41.55%, respectively.
Any recent changes to analyst estimates for ENPH should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 18.06% higher within the past month. ENPH is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note ENPH's current valuation metrics, including its Forward P/E ratio of 20.75. For comparison, its industry has an average Forward P/E of 13.13, which means ENPH is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 94, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.